SWBC Earns SAS-70 Certification in Audit

SAN ANTONIO, Texas – Southwest Business Corporation has earned a SAS-70 certification for its mortgage insurance and collateral protection insurance systems, the company says. The SAS-70 is a nationally recognized auditing standard that provides a format for service organizations to disclose their control objectives and processes to both customers and auditors in a standardized format. SWBC received its clean bill from an independent examiner from KPMG. “The SAS-70 is very much an IT audit,” says Gregory Lawler, senior vice president and CIO for SWBC. “It is 7/8 related to information technology, and 1/8 related to product controls and procedures.” With 350 employees in offices around the country, SWBC offers a wide variety of mortgage loans, business and retail insurance, and financial solutions to credit unions. “The best news is that the credit union can provide the report to their auditors to help in planning the audit of the credit union’s financial statements. Without the SAS-70, the credit union would likely have to incur additional costs in sending their auditors back to us to perform their procedure,” says SWBC President Gary Dudley.